Itc eligibility on vat paid on hiring bins/containers

This query is : Resolved

arulselvan (Querist)
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17 March 2012 SIR,

Pl.clarify input tax credit can be claimed on bins/containers used on hire basis.

Vendor charging VAT on hire charges & Service tax on Service fees.

Can we claim VAT credit under TN VAT & input credit of Service Tax?

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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17 March 2012 Mr Aruselvan,
Input tax paid on purchases of raw materials,resale goods(including contracts),and capital goods are permitted to be availed generally in all VAT Acts.Capital goods are restricted and notified items.If bins/containers are treated as capital goods in your state's relevant notification(Mostly not done)then only you can take that benifit.Pl refer to that notification in an Act book and confirm to yourself...MJK

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